CHARTER IN GREECE

Conditions precedent:

• yacht registered under a EU-flag with the authorization by the Flag-State to be chartered;
• the Operator must (1) establish a physical branch in Greece , (2) be VAT registered in Greece and (3) obtain a Greek charter licence;
• the Operator has to name a fiscal representative and to register the yacht in the Greek charter yacht register;
• there is the obligation to have the yacht chartered with a minimum of  200 days over a 5 years reference period.

VAT:

• The applicable rate is 24%, but reduced to 9,6% for foreign yachts entitled to perform international cruises for charter parties upon 3 days
• duration and starting in Greece;
• There is no Greek VAT to be paid for charter parties starting from other EU-member states, but the yacht must obtain a “Dilkito” from the authorities of the first port of entry and no change in the passengers list is allowed;
• Greek VAT applies in prorate basis in time for charter parties coming in from non EU countries.

Tax-free fuel:

• available for crewed yachts under the condition to be chartered at least 75 days during an 3 years reference period.

Practical Advise:
To avoid the pitalls of the complex Greek system , do no charter parties starting from Greece